The total costs of federal regulation
A) encompasses only explicit costs of satisfying regulatory demands.
B) also includes the explicit costs associated with regulations issued by 50 different state governments.
C) encompasses only opportunity costs of satisfying regulatory demands.
D) encompasses both explicit and opportunity costs of satisfying regulatory demands..
D
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Marginal cost is the opportunity cost
A) that your activity imposes on someone else. B) that arises from producing one more unit of a good or service. C) of a good or service that exceeds its benefit. D) of a good or service divided by the number of units produced.
According to Gordon, the three main ingredients in the recent U.S. housing bubble are
A) low interest rates, saving glut, and financial innovation. B) high interest rates, lack of savings, and financial innovation. C) financial innovation, expansionary fiscal policy, and capital outflow. D) capital outflow, budget deficit, and trade deficit.
As the price of video games is raised from $20to $25, their quantity demanded fell from 1.5 million copies to 1 million copies. The price elasticity of demand for video games is:
a. -0.55 b. -1.8 c. -1.33 d. -2.08
A merger between two firms in a supplier-purchaser relationship is called a vertical merger
Indicate whether the statement is true or false